The global Research Antibodies market is estimated to be valued at US$ 3785.05 Bn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Research antibodies are protein molecules which are produced by living organisms in response to antigenic substances called haptens and are extensively utilized across various applications such as Western Blotting, Flow Cytometry, Fura-histochemistry, and Enzyme-linked immunosorbent assay (ELISA). They have become indispensable tools for biological and medical research in proteomics, drug development, biomarker exploration, immunology, and therapeutic uses because of their high sensitivity and specificity. With the increasing investments in R&D across pharmaceutical and biotechnology companies, the demand for research antibodies is expected to surge during the forecast period.
Market key trends:
Research and development spending on drug discovery and development activities has grown substantially in recent years. Pharmaceutical companies are consistently investing increased funds in R&D activities to develop new drug molecules. Furthermore, growing investments in basic scientific research from government organizations is also propelling the demand for research antibodies. For instance, according to the report of Pharmaceutical Research and Manufacturers of America (PhRMA), the R&D expenditure of biopharmaceutical companies in the US increased from US$ 49.6 billion in 2012 to US$ 79.6 billion in 2019. The rising R&D expenditure is expected to drive the growth of the Global Research Antibodies Market Size during the forecast period.
Strength: Research antibodies are used extensively in various life science research and drug discovery activities. This widespread application ensures consistent demand.
Weakness: High costs associated with antibody production and testing may restrict adoption among small research companies or laboratories.
Opportunity: Emerging areas like stem cell research, cancer immunotherapy offer new application scopes for research antibodies.
Threats: Stringent regulatory guidelines for antibody development and testing increase compliance burden on manufacturers.
Key Takeaways : The global research antibodies market is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: North America currently dominates the market owing to significant research spending and presence of leading life sciences companies. The Asia Pacific region is expected to grow at the fastest pace due to increasing R&D investments and expanding biotechnology sector across China, India, and South Korea.
Key players operating in the research antibodies market are Zoetis Inc., Elanco Animal Health, MSD Animal Health, Benchmark Holdings, Phibro Animal Health Corporation, Intervet Inc., Norvartis, Merck Animal Health, Novartis AG, Pharmaq AS, AquaBounty Technologies, Alltech, Skretting, Nutreco, Biomin. They are focusing on new product launches and collaborations to strengthen their market position.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it